Sunday, September 25, 2016 12:01:03 PM
There is nothing on it but price and volume.
http://stockcharts.com/h-sc/ui?s=IDRA&p=D&yr=1&mn=0&dy=10&id=p78460684793
You should see:
where the resistance levels line up.
where the b/o's would likely come.
You can come up with much more as you ask yourself questions and draw lines.
If you cover up everything after May 1st, where would a safe buy zone likely be?
What would the likely resistance levels be?
Some have reduced positions to protect profits here. Why does the chart say that is prudent?
Now uncover the rest of the chart.
How does the price movement now correlate to the expected?
Pretty amazing how close the correlation is isn't it?
What are your expectations from here and are they supportable?
Ask yourself questions. Draw lines.
What we are working toward is increasing the odds of seeing the potential future with high enough odds in our favor to give confidence to our plan. It should be about expectation not hope. The disciplined trader/investor will have targets and a mental stoploss plan before ever entering a position.
Nothing is perfect so what is the plan for the unexpected?
A good exercise is to do this with IBB and one of the markets like $INDU or $SPX to see if you will be with or fighting other forces.
Trading is almost here again. Have a great and green week everyone.
IDRA
PS, No I do not trade entirely off one chart or time frame.
Lingerie Fighting Championships Signs Broadcast Deal With Maybacks Global Entertainment • BOTY • Sep 26, 2024 9:00 AM
Maybacks Global Entertainment and Lingerie Fighting Championships Enter Into Broadcast And Revenue Sharing Agreement • AHRO • Sep 26, 2024 8:30 AM
North Bay Resources Commences Operations at Bishop Gold Mill, Inyo County, California; Engages Sabean Group Management Consulting • NBRI • Sep 25, 2024 9:15 AM
CEO David B. Dorwart Anticipates a Bright Future at Good Gaming Inc. Through His Most Recent Shareholder Update • GMER • Sep 25, 2024 8:30 AM
Cannabix Technologies and Omega Laboratories Inc. Advance Marijuana Breathalyzer Technology - Dr. Bruce Goldberger to Present at Society of Forensic Toxicologists Conference • BLOZF • Sep 24, 2024 8:50 AM
Integrated Ventures, Inc Announces Strategic Partnership For GLP-1 (Semaglutide) Procurement Through MedWell USA, LLC. • INTV • Sep 24, 2024 8:45 AM